LONDON (ShareCast) - (ShareCast News) - Cellular materials technology company Zotefoams announced that it will invest approximately £12m to increase capacity at its Croydon site.
The company said that over the past few years, demand for high-performance products had increased, and with strong customer interest in the product range it expected demand to continue to grow "significantly".

It said the planned investment was intended to install low-pressure autoclaves, primarily for expansion of ZOTEK HPP foams.

The company currently operates four smaller low-pressure autoclaves for the range of products, two of which were commissioned in early 2017.

Zotefoams said the investment, in two larger low-pressure autoclaves, buildings and associated infrastructure, would increase expansion capacity for the ZOTEK foams product range by a factor of up to six times.

The company said it expected the enhanced capacity to come on stream during 2019.

"Our pipeline of opportunities to sell higher margin HPP materials is developing very positively and, with strong customer interest in our products, we believe that now is the right time to invest in increased manufacturing capacity to support our future growth," said Zotefoams group CEO David Stirling.

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